Haynes Boone has advised Chariot Ltd, an AIM-traded energy company, on its successful US$24.3 million (£18.0 million) fundraising. The transaction comprised an equity placing, subscription, open offer and the grant of warrants, and will provide acquisition funding for an oil-producing asset offshore of Angola.
The transaction was led by Corporate Partner Robert Bines-Black, with support from Corporate Associates David McClellan and Johanna Reimann.
Chariot is an Africa-focused energy group with two core business streams: upstream oil and gas and renewable power. Its upstream business is focused on building a full-value-chain growth platform within Africa. In addition to establishing a strategic footprint in Angola, Chariot maintains a diverse portfolio in Morocco and continues to pursue new ventures, with a focus on production opportunities as well as its ongoing exploration interests in Namibia.
The company’s renewable power business is dedicated to delivering competitive, sustainable and reliable energy solutions through the development, generation and trading of renewable power in South Africa. Chariot is also progressing the development of its power-to-mining projects across the continent.
“It has been a pleasure to work with the Chariot team on this exciting opportunity for the group,” said Bines-Black. “As a result of the fundraising, Chariot expects to have significant economic exposure to cash-generative assets in Angola. Our team is delighted to have assisted Chariot as it accessed equity capital from both new and existing institutional investors, as well as from its shareholder base, which has shown strong support through the open offer.”
Haynes Boone’s Capital Markets Practice advises on high-value public offerings, including IPOs, PIPEs, reverse mergers and dual listings. The team has led landmark deals across energy, tech, life sciences and financial services, including one of the largest IPOs in LSE history and the first Nasdaq-LSE dual listing of this century. Clients rely on our cross-border experience and integrated counsel across major U.S., U.K. and global exchanges for securities transactions, compliance and REIT structuring.
The transaction was led by Corporate Partner Robert Bines-Black, with support from Corporate Associates David McClellan and Johanna Reimann.
Chariot is an Africa-focused energy group with two core business streams: upstream oil and gas and renewable power. Its upstream business is focused on building a full-value-chain growth platform within Africa. In addition to establishing a strategic footprint in Angola, Chariot maintains a diverse portfolio in Morocco and continues to pursue new ventures, with a focus on production opportunities as well as its ongoing exploration interests in Namibia.
The company’s renewable power business is dedicated to delivering competitive, sustainable and reliable energy solutions through the development, generation and trading of renewable power in South Africa. Chariot is also progressing the development of its power-to-mining projects across the continent.
“It has been a pleasure to work with the Chariot team on this exciting opportunity for the group,” said Bines-Black. “As a result of the fundraising, Chariot expects to have significant economic exposure to cash-generative assets in Angola. Our team is delighted to have assisted Chariot as it accessed equity capital from both new and existing institutional investors, as well as from its shareholder base, which has shown strong support through the open offer.”
Haynes Boone’s Capital Markets Practice advises on high-value public offerings, including IPOs, PIPEs, reverse mergers and dual listings. The team has led landmark deals across energy, tech, life sciences and financial services, including one of the largest IPOs in LSE history and the first Nasdaq-LSE dual listing of this century. Clients rely on our cross-border experience and integrated counsel across major U.S., U.K. and global exchanges for securities transactions, compliance and REIT structuring.
